SEBI Mandates Joint Inspections Of Stock Brokers, Depository Participants From This Financial Year

The Securities and Exchange Board of India on Friday announced an enhanced approach for inspecting market intermediaries, which will come into effect from the financial year 2026-27.SEBI said the framework, formulated after consultations with Market Infrastructure Institutions and the Supervisory Body for Investment Advisers and Research Analysts, provides for joint inspections of stock brokers and depository participants by stock exchanges and depositories.To strengthen regulatory oversight...

Police Can Investigate SCRA Offences But Cannot Take Cognizance Through Report: Gujarat High Court

The Gujarat High Court on 27 July held that while police can investigate cognizable offences under the Securities Contracts (Regulation) Act, 1956 (SCRA), courts cannot take cognizance of such offences on the basis of a police report and must act only on a complaint filed by the competent authority. A Bench of Justice P.M. Raval partly allowed a petition seeking quashing of an FIR alleging illegal “dabba trading” and quashed the proceedings relating to offences under Sections 406 and 420 of the...

SEBI Proposes Allowing REITs, InvITs To Invest In Third-Party Under-Construction Projects

The Securities and Exchange Board of India (SEBI) on Thursday issued a consultation paper proposing a series of ease of doing business measures for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs).One of the key proposals is to permit them to invest in third-party under-construction projects without acquiring a controlling interest.The proposals are based on inputs received from industry associations, including the Indian REITs Association and Bharat InvITs...

India Power MD Raghav Raj Kanoria Settles SEBI Proceedings Over Financial Statement Misstatements

Raghav Raj Kanoria, the Managing Director of India Power Corporation Limited (IPCL), has settled adjudication proceedings with SEBI regarding alleged financial misstatements by paying ₹24.70 lakh. The matter was settled under SEBI's settlement regulations without Kanoria admitting or denying any findings. Following the payment, SEBI Adjudicating Officer Jai Sebastian officially disposed of the proceedings.The proceedings arose from a Show Cause Notice issued on May 28, 2025, alleging that...

SEBI Proposes Depository Receipts Framework For REIT And InvIT Units To Attract Foreign Capital

On 5 August, the Securities and Exchange Board of India (SEBI) proposed a framework to allow issuance of Depository Receipts (DRs) against units of Real Estate Investment Trusts (REITs) and publicly listed Infrastructure Investment Trusts (InvITs), based on the recommendations of its Hybrid Securities Advisory Committee. SEBI said the Depository Receipts Scheme, 2014 permits issuance of DRs, which are foreign currency denominated instruments issued by a foreign depository against eligible...

'Would Send Wrong Signals': Delhi High Court Denies Bail In ₹30 Crore Investment Fraud Case

The Delhi High Court on Tuesday refused regular bail to Ravinder Singh Sidhu, accused of duping investors of over ₹30 crore through fraudulent investment schemes. The prosecution alleges that Sidhu, who served as Managing Director of a company involved in the schemes, induced investors through false claims that the companies were registered with the Securities and Exchange Board of India (SEBI) and as Non-Banking Financial Companies (NBFCs) with the Reserve Bank of India (RBI).Justice Girish...

SEBI Appoints Prasanta Mahapatra As Executive Director

The Securities and Exchange Board of India (SEBI) on Monday announced that Prasanta Mahapatra has assumed charge as Executive Director. He will oversee the Corporation Finance Investigation Department and the Recovery and Refund Department of the market regulator.Prior to his elevation, Mahapatra served as Chief General Manager at SEBI. Having joined the regulator in April 1999, he has worked across several departments, including Market Regulation, Investigation, Enquiries and Adjudication,...

SAT Launches E-Filing Portal; Fresh Appeals, Documents To Be Filed Online From August 3

The Securities Appellate Tribunal (SAT), Mumbai, has officially launched its e-filing portal for advocates and litigants.Beginning August 3, 2026, fresh appeals and all other judicial documents must be filed through the portal after users complete registration and obtain the tribunal's approval.A notice issued by the tribunal on July 31 states that new users must first register on the portal before they can file an appeal or any other document. Once approved by SAT, they can begin filing appeals...

SEBI Bars ZEE, Punit Goenka, Subhash Chandra From Securities Market Over Unauthorised Property Pledge

The Securities and Exchange Board of India (SEBI) has restrained Zee Entertainment Enterprises Ltd. (ZEEL), former Managing Director and CEO Punit Goenka, and former Chairman Subhash Chandra from accessing the securities market.ZEEL has been restrained for two months, while Goenka and Chandra have each been debarred for one year after the regulator found that the company's Hyderabad property was unauthorizedly pledged to secure loans taken by promoter-linked entities without the approval of...

SEBI Closes Proceedings Against Religare, Rashmi Saluja Over Burman Group Open Offer

The Securities and Exchange Board of India (SEBI) has disposed of proceedings against Religare Enterprises Limited (REL), its former Executive Chairperson Rashmi Saluja and certain directors over their alleged non-cooperation during the Burman Group's open offer. The regulator held that no further directions were warranted as the open offer had already been completed and the interim directions issued to facilitate it had served their purpose.SEBI quasi-judicial authority Biju S passed the...

Supreme Court Stays Delhi HC Ruling Declaring NSE A Public Authority Under RTI Act

The Supreme Court on Friday stayed the Delhi High Court's July 1 judgment declaring the National Stock Exchange (NSE) a "public authority" under the Right to Information Act. It thus revived the interim stay on the Central Information Commission's June 7, 2007 order declaring the NSE a public authority, directing that it shall continue until further orders. A bench of justices Vikram Nath and Sandeep Mehta issued a notice on NSE's appeal. It extended the interim protection that had operated...

SEBI Penalises Three ₹20 Lakh For Manipulating Akash Infra Stock Through Telegram Channels

The Securities and Exchange Board of India (SEBI) has imposed a joint and several penalty of ₹20 lakh on three individuals for orchestrating a scheme to circulate misleading stock recommendations through Telegram channels to influence trading in the shares of Akash Infra-Projects Limited (AIPL).At the same time, the regulator dropped proceedings against the remaining ten noticees, including the company's promoters, directors, consultants, and certain net sellers, after finding insufficient...